Good Friend Ministries (EIN 863225733) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2021

Legal Domicile

Principal Officer

Daniel Galbraith

Phone

9897939830

Tax Period

2024-01-01 to 2024-12-31

Good Friend Ministries, founded in 2021, is a micro nonprofit in the Religion sector that reported $70K in total revenue in fiscal year 2024. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $197K exceeded revenue, resulting in a 180% operating deficit.

Mission

The mission of Good Friend Ministries is to provide pastors with a retreat center and counseling services.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $68,639

Program Service Revenue $0

Investment Income $0

Other Revenue $1,574

TOTAL REVENUE $70,213

Expense Breakdown

Grants Paid $250

Salaries & Benefits $175,867

Fundraising Expenses $0

Program Expenses $178,302

Other Expenses $20,456

TOTAL EXPENSES $196,573

Year-over-Year Comparison

	2024	2023	Change
Revenue	$70,213	$191,862	-0.6%
Expenses	$196,573	$196,385	+0.0%
Net Income	$-126,360	$-4,523	+26.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Wolfram	Consultant	2.00	Officer Director	$0	$0	$0
Janet Johnson	Secretary	2.00	Officer Director	$0	$0	$0
Daniel Galbraith	Chair	2.00	Officer Director	$0	$0	$0
Jonathon Pickelman	Treasurer	2.00	Director	$0	$0	$0
Thad Wolfram	Director	2.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$70,213	$196,573	$76,877	$-126,360
2023	$191,862	$196,385	$203,944	$-4,523
2022	$228,683	$122,245	$207,397	$106,438

Good Friend Ministries